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Originally Posted by nolemmings
Yes I do. Having "a ton" of money does not mean you enjoy being dragged into court and paying for the privilege. You think they puff out their chests and brag about being sued for fraud at parties?
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The individuals saying that these companies are not worried and are laughing have no litigation experience. Even if these companies are confident that the claims will not survive summary judgement, they are still worried. The legal process is grueling and stressful.
Number 1: it is time consuming. These companies, which includes their officers and other employees, will have to devout time to discovery - giving discovery depositions, producing documents, answering admissions and interrogatories, etc.
Number 2: it invades on their privacy. The above-mentioned discovery will bring to light testimony and company documents, etc.
Number 3: most insurance policies exclude intentional torts. These companies’ insurance companies may file a declaration action against them and have a court determine whether there is even any valid coverage.
This action will not leave them. The individuals who control these companies will constantly think about the action. It is no laughing matter.